Lazard Asset Management LLC Lowers Stake in Hubbell Inc $HUBB

Key Points

• Lazard Asset Management reduced its Hubbell stake by 23% in the first quarter, selling 26,284 shares and retaining 87,816 shares valued at approximately $43.1 million. Institutional investors collectively own 88.16% of the company.
• Hubbell exceeded quarterly expectations with EPS of $5.52 and revenue of $1.71 billion, up 15.3% year over year. The company provided 2026 EPS guidance of $20.25 to $20.55 and maintained its $1.42 quarterly dividend.
• Hubbell shares recently traded near $483.50, down 2.9%, while analysts maintained a generally favorable outlook with a “Moderate Buy” consensus and an average price target of $554.38.

Lazard Asset Management LLC cut its stake in Hubbell Inc (NYSE:HUBB - Free Report) by 23.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,816 shares of the industrial products company's stock after selling 26,284 shares during the period. Lazard Asset Management LLC owned about 0.17% of Hubbell worth $43,095,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Hubbell by 140.4% during the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company's stock valued at $1,116,773,000 after buying an additional 1,468,701 shares in the last quarter. State Street Corp boosted its position in Hubbell by 1.8% in the 4th quarter. State Street Corp now owns 2,302,567 shares of the industrial products company's stock valued at $1,022,593,000 after buying an additional 40,623 shares during the period. Geode Capital Management LLC grew its stake in Hubbell by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company's stock worth $608,704,000 after acquiring an additional 10,898 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Hubbell by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,214,236 shares of the industrial products company's stock worth $539,257,000 after acquiring an additional 60,071 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Hubbell by 0.8% during the fourth quarter. Deutsche Bank AG now owns 1,142,410 shares of the industrial products company's stock worth $507,356,000 after acquiring an additional 9,202 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Down 2.9%

NYSE HUBB opened at $483.50 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. The company's 50-day simple moving average is $489.27 and its two-hundred day simple moving average is $497.05. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.39 by $0.13. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $4.93 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Equities analysts forecast that Hubbell Inc will post 19.98 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Hubbell's dividend payout ratio (DPR) is presently 33.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HUBB. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Weiss Ratings cut Hubbell from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Barclays raised their price objective on Hubbell from $481.00 to $503.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Stephens lifted their target price on Hubbell from $550.00 to $600.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Finally, UBS Group reiterated a "neutral" rating and issued a $515.00 target price on shares of Hubbell in a report on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hubbell has an average rating of "Moderate Buy" and a consensus price target of $554.38.

Key Stories Impacting Hubbell

Here are the key news stories impacting Hubbell this week:

• Positive Sentiment: Quarterly results exceeded expectations. Hubbell reported adjusted earnings of $5.52 per share, above the $5.39 analyst consensus, while revenue reached $1.71 billion versus estimates of $1.66 billion. Revenue increased 15.3% year over year, and EPS rose from $4.93 in the prior-year quarter. Hubbell second-quarter earnings report
• Positive Sentiment: Hubbell raised its full-year 2026 outlook. Management now expects EPS of $20.25 to $20.55, above the $19.98 consensus, and revenue of $6.8 billion to $6.9 billion, exceeding the roughly $6.6 billion analyst forecast. The improved guidance signals continued demand and operating momentum. Hubbell raises 2026 outlook
• Positive Sentiment: The dividend was maintained at $1.42 per share quarterly. The payment is scheduled for September 15 to shareholders of record on August 31, providing continued income support for investors. Hubbell dividend announcement
• Neutral Sentiment: The stock’s valuation leaves room for profit-taking. With shares trading near $483.50, Hubbell has a market capitalization of approximately $25.6 billion and a price-to-earnings ratio near 28.6. Strong results may have been largely anticipated, limiting the immediate upside reaction.
• Negative Sentiment: Put-option activity surged. Investors purchased 3,505 put options, nearly 10 times the typical daily volume, indicating increased hedging or bearish short-term positioning. This may have contributed to pressure on the shares, although options activity alone does not establish a fundamental deterioration.

Hubbell Profile

Hubbell Incorporated NYSE: HUBB is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company's offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.

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